Fresh from selling Aveo for $3.85 billion, Brookfield Asset Management is looking to spend more than US$10 billion (A$15 billion) acquiring Yes! Communities, a major US manufactured home operator owned by Singapore’s sovereign wealth fund GIC.
Yes! Communities, based in Denver, Colorado, manages 213 communities across 18 states, with more than 54,500 home sites. GIC, which acquired the platform in 2016, has also been exploring an IPO, according to the Financial Times.
Brookfield’s tilt at Yes! comes just months after it offloaded Aveo, Australia’s largest retirement village operator, to Scape Australia’s newly formed The Living Company. At the time of sale, Aveo held a 3.4 million sqm portfolio of over 10,000 units across 65 villages, with a pipeline of more than 3,000 units.
Brookfield originally took Aveo private in December 2019 for $1.27 billion after a drawn-out takeover bid, investing a further $200 million between 2020 and 2024 as it consolidated Aveo’s position as the country’s leading retirement living operator. In June 2025, it flagged plans to sell Aveo for $3 billion before restructuring the portfolio, divesting its South Australian operations to focus on the East Coast.
The Canadian giant’s bid for Yes! underlines its appetite for scale in the global seniors and housing sectors. Brookfield’s assets under management topped US$1 trillion in late 2024, cementing its position as one of the world’s largest investment firms.
